February 8, 2011 / 10:36 PM / 7 years ago

UPDATE 1-OpenTable Q4 profit beats on higher reservation rev

* Q4 adj EPS $0.33 vs est $0.22

* Revenue up 61 pct to $30.8 mln

Feb 8 (Reuters) - OpenTable Inc OPEN.O, the restaurant reservation platform, posted a fourth-quarter profit that beat estimates, buoyed by a surge in revenue from its reservation solutions segment.

For the quarter ended Dec. 31, net income was $5.1 million, or 21 cents per share, compared with $3.1 million, or 13 cents per share, a year ago.

Excluding items, the San Francisco-based company earned 33 cents a share.

Revenue rose 61 percent to $30.8 million. Reservation revenue rose 80 percent to $15.4 million.

Analysts on an average were expecting the company to earn 22 cents a share on revenue of $30.2 million, according to Thomson Reuters I/B/E/S.

OpenTable generates most of its revenue from its restaurant customers. The company’s revenue includes monthly subscription fees and a fee for each restaurant guest seated through online reservations.

OpenTable’s shares, which have risen over 25 percent in the last three months, closed at $85.28 on Nasdaq on Tuesday. They fell less than a percent to $84.99 in extended trade. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Roshni Menon)

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